Automech assets auctioned for failure to repay loan

Overwhelmed by huge debts, the management of Moshi-based co-operative society has now started selling some of its assets to pay debts running into billions.

A collection of unusual items signed by South Africa's anti-apartheid icon Nelson Mandela is to be auctioned to raise money for charity.

A permit to kill an endangered black rhino in Namibia is sold at auction in the US state of Texas, despite protests and death threats.

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'MPs must repay social security funds'
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Some Members of Parliament, who are among long standing debtors of some social security funds, may soon be slapped with arrest warrants Deputy Finance minister, Mwigulu Nchemba Labour and Employment minister, Gaudentia Kabaka said yesterday.

The Tanzania Revenue Authority (TRA) said yesterday it would take legal action against 15 importers, who had failed to meet the seven-day presidential ultimatum that required them to pay taxes by Friday.

>The government has started repaying part of the loan it owes the Public Service Pension Fund (PSPF), a senior official has said.

The government has committed to wind up outstanding debts it owes the Public Service Pensions Fund (PSPF) and other social security schemes to sustain their smooth operations.

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Assets of Bank M Tanzania increased by 30 per cent to Sh600 billion in the third quarter of this year compared with the value in a similar period last year.